VLC Treasurer Tasks

Board Member

  • Attend monthly Board meetings
  • Participate as a voting member
  • Present income statement and cash balance to the Board
  • Maintain and enforce policies and procedures pertaining to expense reimbursements, coaches’ payments, and unpaid registration fees

Financial Statements / General Ledger

  • Record all checks, cash receipts, and journal entries in QuickBooks Online
  • Maintain chart of accounts in QuickBooks Online
  • Create reports, including income statements and balance sheets, and any ad hoc requests
  • Create invoices as needed for donors, registration collection, etc.

Manage Cash and Banking

  • Perform collection procedures for any unpaid registrations (see guidelines document)
  • Pick up mail from PO Box at post office at least once a week
  • Process credit card payments of registration fees using Sage Virtual Terminal and the Club website
  • Do required reporting with Sage Virtual Terminal
  • Pay all invoices and expense reimbursement requests [only President and Treasurer have check signing authority]
  • Make deposits of cash and checks at State Bank of Cross Plains
  • Manage and control usage of any Club vendor accounts
  • Reconcile bank statement monthly
  • Issue checks to team parents for referee fees
  • Provide cash and reconcile cash for concession cash box at Bull Rush Tournament in May
  • Determine profit from summer camps and issue payments to coaches (profits are shared by coaches)

Budgeting

  • Monitor spending in accordance with the approved budget for the current fiscal year
  • Coordinate budget creation starting in June and concluding in August for the next fiscal year [fiscal year: 9/1-8/31]
  • Load approved budget into QuickBooks Online

Corporate Reporting

  • File Non-Stock Corporation Annual Report due 12/31 with Department of Financial Institutions
  • File prior year 990-EZ income tax forms with the IRS by 12/15
  • Obtain completed W-9s from and issue Form 1099s by 1/31 to all coaches receiving at least $600 in stipends
  • Send copies of 1099s to IRS and State of Wisconsin along with any other required forms (1096) by 2/29

Insurance

  • Obtain insurance coverage for Bull Rush Tournament, winter clinics, and summer camps
  • Renew Directors & Officers Liability policy and Peace of Mind Endorsement

Documentation

  • Maintain records of scholarships awarded and update website accordingly
  • Maintain fiscal year binder with supporting documentation of all payments, receipts, bank statements, etc.
  • Manage all communication of account
  • Maintain original corporate documents and all key financial documents such as tax exempt certificate, articles of incorporation, bylaws, tax returns, etc.

VLC Treasurer TasksPage 1